Estonia's GDP changed from approximately $1B 791M in 1993 to $43B 486M in 2024, showing an overall 2328.0% sharply increased during the period.
The lowest GDP was recorded in 1993 at $1B 791M, and the highest in 2024 at $43B 486M.
Over the 31-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 10.8%.
For comparison, the average annual growth rate of Latvia was 10.8%, and that of Russia was 11.1%.
Overview of Estonia's GDP (1993–2024)
The Gross Domestic Product (GDP) of Estonia recorded a 2328.0% sharply increased from 1993 to 2024.
The average GDP during this period was $19B 142M, and the median was $21B 84M.
GDP fluctuated within a range of $41B 695M, with a standard deviation of $12B 231M.
The average annual change was $1B 272M.
Estonia GDP from 1993 to 2024
The total market value of goods and services produced annually in Estonia.
Highest and Lowest GDP Records
- Lowest GDP: 1993, $1B 791M
- Highest GDP: 2024, $43B 486M
- Most Recent GDP: 2024, $43B 486M
Notable Annual GDP Changes
- 2021: Significant increase in GDP
- 2009: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Estonia's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $31B 294M → $31B 305M
- Outcome: remained stable
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $22B 476M → $19B 693M
- Outcome: sharply declined
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $5B 707M → $6B 269M
- Outcome: increased
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $5B 160M → $5B 678M
- Outcome: sharply increased
Key Economic Indicators of Estonia (1993–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1993 | $ 1B 791M | $ 1,194.19 | $ 7,474.08 | $ 11B 206M | 0 % | 1.178 % | 26.45 % | 0 % | 1M 499K people |
1994 | $ 2B 507M | $ 1,711.27 | $ 7,682.94 | $ 11B 258M | -1.642 % | -6.587 % | 19.48 % | 0 % | 1M 465K people |
1995 | $ 3B 909M | $ 2,721.01 | $ 8,172.86 | $ 11B 741M | 2.155 % | -4.04 % | 20.30 % | 0.17 % | 1M 437K people |
1996 | $ 4B 785M | $ 3,379.95 | $ 8,863.70 | $ 12B 547M | 4.943 % | -8.346 % | 19.82 % | -0.523 % | 1M 416K people |
1997 | $ 5B 160M | $ 3,686.89 | $ 10,310.16 | $ 14B 429M | 13.05 % | -10.904 % | 21.67 % | 3.363 % | 1M 400K people |
1998 | $ 5B 678M | $ 4,096.13 | $ 10,983.52 | $ 15B 225M | 4.34 % | -8.459 % | 21.91 % | 1.046 % | 1M 386K people |
1999 | $ 5B 772M | $ 4,151.43 | $ 11,058.98 | $ 15B 375M | -0.425 % | -4.267 % | 21.68 % | -3.078 % | 1M 390K people |
2000 | $ 5B 707M | $ 4,084.94 | $ 12,390.27 | $ 17B 309M | 10.088 % | -5.41 % | 23.07 % | -0.036 % | 1M 397K people |
2001 | $ 6B 269M | $ 4,516.22 | $ 13,515.68 | $ 18B 761M | 6.004 % | -7.1 % | 22.48 % | 0.333 % | 1M 388K people |
2002 | $ 7B 391M | $ 5,358.42 | $ 14,748.26 | $ 20B 343M | 6.771 % | -11.067 % | 21.87 % | 0.286 % | 1M 379K people |
2003 | $ 9B 891M | $ 7,216.27 | $ 16,284.36 | $ 22B 321M | 7.6 % | -12.87 % | 22.33 % | 1.392 % | 1M 371K people |
2004 | $ 12B 158M | $ 8,923.19 | $ 17,967.09 | $ 24B 481M | 6.804 % | -11.922 % | 22.73 % | 2.115 % | 1M 363K people |
2005 | $ 14B 126M | $ 10,426.69 | $ 20,412.27 | $ 27B 654M | 9.526 % | -8.678 % | 24.68 % | 0.851 % | 1M 355K people |
2006 | $ 17B 47M | $ 12,657.06 | $ 23,233.21 | $ 31B 291M | 9.766 % | -14.927 % | 24.91 % | 2.505 % | 1M 347K people |
2007 | $ 22B 476M | $ 16,764.94 | $ 25,788.63 | $ 34B 574M | 7.579 % | -14.86 % | 25.15 % | 2.195 % | 1M 341K people |
2008 | $ 24B 433M | $ 18,273.30 | $ 25,003.42 | $ 33B 432M | -5.132 % | -8.657 % | 22.98 % | -3.354 % | 1M 337K people |
2009 | $ 19B 693M | $ 14,756.39 | $ 21,518.72 | $ 28B 717M | -14.629 % | 2.55 % | 23.56 % | -3.117 % | 1M 335K people |
2010 | $ 19B 568M | $ 14,696.81 | $ 22,363.56 | $ 29B 777M | 2.444 % | 1.783 % | 23.37 % | -0.627 % | 1M 331K people |
2011 | $ 23B 210M | $ 17,484.73 | $ 24,557.24 | $ 32B 598M | 7.263 % | 1.316 % | 26.88 % | 0.402 % | 1M 327K people |
2012 | $ 23B 34M | $ 17,414.24 | $ 25,996.08 | $ 34B 385M | 3.228 % | -1.897 % | 27.46 % | -0.829 % | 1M 323K people |